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Showing posts from March, 2018

Facebook (FB): Buy, Sell, Hold?

Facebook (FB) stock price recently took a major dive, dropping from the high of $195 on February 2nd down to $159 on Friday March 23rd. Is this a good time to buy? Well, let's take a look at the chart and see it says. Please note that when I do a stock analysis, I generally look at the daily chart. However, with FB chart I will be looking at the 2-day chart, simply because it seems to be a bit more accurate. Here are my analysis. 1) Price recently broke below a long term support trend line. 2) Price is now testing the bottom of the flag. 3) If support holds, price might get a bounce to retest: - the support trend line that was just broken; - the moving averages [50 SMA (blue line) and 34 EMA (purple line)]; - and possibly the top of the flag. 4) If price is able to break above these key resistance areas, the next targets are 185.60, 194.99, 209.73, 229.13 and 248.12 5) But if any of the above resistances hold